Full Version: Hi Tech panels
From: Button (LASERCHICK) [#9]
16 May 2006
To: ABH (BACHI) [#1] 16 May 2006
I am looking through posts, trying to come up with how to figure prices.
Tomorrow I am meeting with an Electrical Contractor about getting their engraving business. I know who is doing their engraving now, but I have no idea what he is charging them. How should I figure my price? I want to be competitive and get their business. Any advice and help that everyone can give will be appreciated!
From: Stunt Engraver (DGL) [#10]
16 May 2006
To: Button (LASERCHICK) [#9] 16 May 2006
When I find myself in your position, I ask what the customer has been paying in the past; not as a precursor to undercutting the competiton, but as my way of helping the customer get an honest price.
If the customer is jumping ship, there has to be a reason and price may have nothing to do with it.
If the price they've been paying makes financial sense, I tell the person I'm willing to match that price.
If I think the price is too low, I tell them so and explain why my price must be higher.
I've found, most of the time a customer is looking for another source, it's usually a quality or production-time issue.
From: Button (LASERCHICK) [#11]
16 May 2006
To: Stunt Engraver (DGL) [#10] 16 May 2006
From: Stunt Engraver (DGL) [#12]
16 May 2006
To: Button (LASERCHICK) [#11] 16 May 2006
You're trying to build a relationship with this company.
Be honest.
You don't want to waste their time, or yours. Ask them why they're not happy with the previous supplier.
They'll tell you.
From: ABH (BACHI) [#13]
16 May 2006
To: Button (LASERCHICK) [#9] 16 May 2006
I will give you a rough idea about how I did my pricing.
1/2 inch x 2 inch plate $2.75
1 inch x 2 inch $3.50
Includes engraving
50 cents more for each additional inch of material
contractors normally order large volumes so depending on the number, you can reduce the individual prices slightly.
As you can see the cost of material is extremely low compared to the price you would be charging.
Your first bet should be to get them to tell you what they are paying at present.
i hope this helps
Regards
Bachi